NEW YORK, June 23, 2015 (GLOBE NEWSWIRE) -- iNeedMD Holdings, Inc. (OTC:NEMD) ("iNeedMD" or the "Company") a medical diagnostic device development company, is proud to announce the signing of an international distribution agreement (the "Agreement") with United Kingdom-based Eagle International Limited ("Eagle International"), a leading supplier of ambulances, rapid response vehicles and emergency medical products to private healthcare markets. Eagle International will represent iNeedMD's disposable, pre-positioned electrocardiogram (EKG/ECG) lead set, The EKG Glove™, and related products in the UK, Ireland, Australia and New Zealand. The initial term of the Agreement is for 24 months, with guaranteed minimum product purchases totaling $1.5 million.
The EKG Glove™ is a first-in-class, single-use product that simplifies and standardizes the acquisition of a 12-lead, diagnostic electrocardiogram. An EKG is a mainstay of universal cardiac care as it assesses the electrical activity of an individual's heart. The EKG Glove™ can be deployed in less than 60 seconds given its pre-positioned circuitry and peel-and-stick format. When paired with a portable Bluetooth-enabled EKG device or more traditional office- or hospital-based EKG machines, The EKG Glove™ can help deliver cardiac tracings in less than two minutes. This timeliness, especially in an emergency or triage situation, can mean the difference between a patient's survival and catastrophic damage to the heart muscle because time-sensitive, pharmaceutical and surgical treatment decisions typically require a physician's interpretation of an accurate EKG.
Jonathon Munro Ford, Managing Director of Eagle International noted, "The EKG Glove's ease-of-use can vastly accelerate the speed at which a technician can accurately obtain a 12-lead EKG. As a result, we believe our emergency medical customer base is very enthusiastic about iNeedMD's innovative product and have ranked improved efficiency and a drastic reduction in time-to-result as key product benefits. The EKG Glove™ is also disposable which can help reduce the risk of cross contamination that is present when traditional, reusable lead wires are utilized. We are excited to be launching our international selling efforts for The EKG Glove™ and appreciate iNeedMD's commitment to supporting our initial distribution relationship."
Thomas A. Nicolette, Chief Executive Officer and President of iNeedMD remarked, "We believe Eagle International's decision to offer The EKG Glove™ in tandem with its state-of-the-art ambulance and rapid response vehicles validates the core device characteristics that have shaped the Company's product development efforts, specifically, time-efficiency, user-friendliness and diagnostic accuracy. We are pleased that Eagle International has made a quantifiable commitment to driving sales of The EKG Glove™ in the international marketplace and look forward to working with their team on the successful implementation of their sales plan.
About iNeedMD Holdings, Inc.
iNeedMD Holdings, Inc., headquartered in New York City, develops and markets medical device solutions that enable individuals and their healthcare partners to easily acquire, store and export health- and wellness-related data in convenient, portable platforms. Please visit www.ineedmd.com for additional information.
Forward Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and other filings made by the Company with the U.S. Securities and Exchange Commission.
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